Oil prices were higher in the afternoon of Asian trading hours, with international benchmark Brent crude futures up 0.74% to $40.76 per barrel. U.S. crude futures also gained 0.73% to $38.84 per barrel.

Despite the growth in contributions, it is important to note that  the retirement benefits industry has fallen short in providing enough benefits and sustaining their members especially for companies holding segregated funds.

The devaluation of the local currency has prompted investors to inject money into listed companies. Until the end of 2019, these shares were undervalued but are now the only factors of stability for investors.

Cash flow challenges also saw KenGen hit Kenya Power with a Sh722.31 million financial penalty for flouting 40-day window of paying for the electricity supplied in the financial year ended June 2019.

The Dow Jones Industrial Average fell 650.19 points, or 2.29%, to 27,685.38. The S&P 500 lost 64.42 points, or 1.86%, to 3,400.97 and the Nasdaq Composite dropped 189.35 points, or 1.64%, to 11,358.94.